The firm that pays its partners $12 million a year just can’t stop losing them. Here’s why that paradox may be the most important story in Big Law right now.
Wachtell Lipton broke every profitability record in Am Law 100 history in 2026 — and watched nine partners walk out the door to rivals offering something the numbers alone couldn’t match. What’s really driving the exodus from Wall Street’s most envied firm, whether the lockstep model can survive the age of the $80 million guarantee, and what it all means for the future of elite legal practice: it’s all inside.
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